The Bored Ape Yacht Club has recently made an announcement related to its own cryptocurrency token ApeCoin. The currency is related to Yuga Labs and with its launch, the prices spiked quickly. We know crypto is relatively new in the market and you must have got several questions in your head. So, here we are with a post on “What Is ApeCoin” that will help you find out details about the coin.
The cryptocurrency seems to be listed on major exchanges such as Coinbase and Binance. Bored Ape NFTs are already in high demand and Finbold reported that it was listed amongst the top 10 NFT collections by Google searches. It had an average search volume of 59000 monthly.
The Bored Ape Yacht Club (BAYC) has been the biggest NFT brand since its launch. The team already hinted at the creation of a native currency to empower the ecosystem. Well, now this cryptocurrency has become the reality and this was already anticipated because of the massive popularity of the BAYC.
Excited to know about what is ApeCoin? We will take a closer look at it. We will discuss everything in the post “What is ApeCoin” related to what ApeCoin is, where you can buy it, how to buy it, and much more.
What Is ApeCoin?
ApeCoin is the governance and utility token of the Bored Ape Yacht Club ecosystem. Well, except for the membership in the Ape DAO to oversee the governance of the token, there is no true functionality till now. This ERC-20 token is designed to be a protocol layer for many initiatives to be led by the community. There is a future road map where the holders will have a utility. The ApeCoin are allowed in the following manner:
- 62% coins – Ecosystem (including Bored Ape Yacht Club and Mutant Ape Yacht Club NFT holders)
- 16% coins- Yuga Labs and Charity
- 14% coins- Launch Contributors
- 8% coins- Bored Ape Yacht Club founders
What Is ApeCoin Current Position?
We have listed several details that will tell you about the current position of ApeCoin. Let us check it out.
- Current price: $10.91
- Current Coinmarketcap ranking: 44
- Market cap: $3,02,64,38,921
- All-time high: $39.40
- All-time low: $1.00
- Circulating supply: 27,75,00,000 APE coins
- Maximum supply: 1,00,00,00,000 APE coins
As we have got to know about What is ApeCoin and the current value of the coin, let’s further discuss investing in ApeCoin.
Investment In ApeCoin
If you are wondering whether an investment in ApeCoin is profitable or not, you can check out the stats mentioned above.
ApeCoin has been launched recently and has gained popularity in such a small time. People have generated interest in this cryptocurrency. The prices are rising and are expected to rise in the future. Many big names already own this ApeCoin. You can also invest in ApeCoin, but remember that any cryptocurrency is volatile. Every cryptocurrency involves risks but if an investment is made at the right time you can enjoy better returns. If you are thinking of purchasing ApeCoin, let’s see how you can do so.
Where To Buy ApeCoin?
One can easily purchase or sell these coins on a decentralized exchange. Many exchanges allow you to purchase these ApeCoin.
- Huobi Global
Many other exchanges also allow you to buy these tokens. Let us now see how to buy ApeCoin.
How To Buy ApeCoin?
You can choose any of the above-mentioned exchanges to buy ApeCoin. You need to follow a few steps for this. Let us discuss these steps.
1. Create An Account
The first step is to download the app and sign up. You may require a valid ID and proof of address for this purpose. Make these ready before you begin the process.
2. Add Payment Method
You can now select a payment method after creating an account. You can choose a bank account, credit, or debit card. Make sure you choose the right payment method as per your choice.
3. Start The Trade
You can now start the trade option. Many options will be available right now. You need to press buy from the various options available. You can now type ApeCoin in the search box. You will now find the ApeCoin option, press it, and the purchase screen will appear now.
4. Enter Amount
It is time to enter the amount using the number pad for which you want to buy ApeCoin. You can automatically add the local currency amount that will be converted to the ApeCoin amount.
5. Finalize Your Purchase
Finally, you can now purchase ApeCoin. You need to confirm your purchase here. Carefully check if the details entered are correct or not. If everything is fine, complete the purchase.
You have successfully purchased your first ApeCoin.
Here comes our article on “What is ApeCoin” to an end. The newly launched cryptocurrency is gaining momentum presently. The current situation seems to be in the favor of the Bored Ape Yacht Club and Yuga Labs. Let’s see if the momentum is sustained in the future or not. Do share your thoughts about this in the comment section below.
Frequently Asked Questions
Q1. What Is Ape Coin Crypto?
A. ApeCoin (APE) is the native governance token for all products and services from Yuga Labs. It empowers the decentralized community of the APE ecosystem.
Q2. Is Banana Coin A Cryptocurrency?
A. Yes, Banana is a decentralized cryptocurrency. It has around 500 tokens in circulation.
Q3. Who Is Behind ApeCoin?
A. The ApeCoin DAO is launching the ApeCoin as per ApeCoin’s website.